Why Rail Transport Company Greenbrier's Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Greenbrier Companies Inc's (GBX) shares fell by 16% after the company reported Q4 FY23 results. Despite revenues rising to $1.017 billion and securing orders for 15,300 new railcars, the company's adjusted EPS of $0.92 missed the consensus of $1.00. The company repurchased 0.2 million shares for around $8 million in Q4 and has $46 million worth of shares remaining under the current share repurchase program. For FY24, GBX expects revenue of $3.40 billion – $3.70 billion, lower than the consensus of $3.72 billion.
October 25, 2023 | 2:38 pm
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NEGATIVE IMPACT
Greenbrier's shares fell due to lower than expected EPS and lower revenue expectations for FY24. The company's repurchase of shares and remaining shares under the current repurchase program may provide some support.
Greenbrier's shares fell due to the company's lower than expected EPS and lower revenue expectations for FY24. This indicates that the market had higher expectations for the company's performance. However, the company's repurchase of shares and the remaining shares under the current repurchase program may provide some support to the share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100